The International And Domestic Impact Studies Of The Renminbi's Participation In SDR

Join the SDR currency basket is a historic breakthrough for RMB,marking the international community gradually recognized Chinese economic development and financial results of the reform and opening-up,and the RMB has become one of the main international currency.In this paper the basic principle of SDR effect and limitation of SDR,exchange rate determination,the basic conditions of accession to the SDR and the foundation for the promotion of RMB into the Chinese SDR series of reform,the RMB is discussed in this paper to join SDR international and domestic impacts.In terms of international influence,the renminbi is conducive to enhancing the stability of joining SDR and representative SDR,promote international monetary structure and international reserve currency structure adjustment,and bring the corresponding international asset allocation structure adjustment,but also expand the use range of SDR.In terms of the influence of domestic RMB,joining SDR will accelerate the domestic financial reform,enhance the RMB related asset demand,the impact of international capital flow China and China balance of payments,and bring seigniorage income Chinese.Finally,this paper focuses on the analysis of the RMB brought by joining the SDR capital account gradually liberalized cross-border capital flows and exchange rate risk the risk of fluctuations in the RMB exchange rate formation mechanism reform,and puts forward some specific countermeasures and suggestions.